Abottling company uses two inputs to produce bottles of the soft drink sludge: bottling machines (k) and workers (l). the isoquants have the usual smooth shape. the machines cost $1,000 per day to run (r), and the workers earn $200 per day (w). at the current level of production, the marginal product of machines (mp subscript upper k) is an additional 484 bottles per day, and the marginal product of labor (mp subscript upper l) is 20 more bottles per day. is this firm producing at minimum cost? if it is minimizing cost, explain why. if it is not minimizing cost, explain how the firm should change the ratio of inputs it uses to lower its cost.

Which of the following best explains why large companies have an advantage over smaller companies? a. economies of scale make it possible to offer lower prices. b. the production possibilities frontier is wider for a larger company. c. decreasing marginal utility enables more efficient production. d. increasing the scale of production leads to a reduction in inputs.2b2t

Goods and services that can be used for the same purpose are and goods and services that are used together are

When interest is compounded continuously, the amount of money increases at a rate proportional to the amount s present at time t, that is, ds/dt = rs, where r is the annual rate of interest. (a) find the amount of money accrued at the end of 3 years when $4000 is deposited in a savings account drawing 5 3 4 % annual interest compounded continuously. (round your answer to the nearest cent.) $ (b) in how many years will the initial sum deposited have doubled? (round your answer to the nearest year.) years (c) use a calculator to compare the amount obtained in part (a) with the amount s = 4000 1 + 1 4 (0.0575) 3(4) that is accrued when interest is compounded quarterly. (round your answer to the nearest cent.) s = $